SONY

Sony Group Corporation

81.68
USD
-0.11%
81.68
USD
-0.11%
79.94 133.75
52 weeks
52 weeks

Mkt Cap 103.00B

Shares Out 1.26B

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Nintendo jumps despite profit dip as Switch sales top estimates, announces stock split

Nintendo (OTCPK:NTDOY) rose in early trading on Tuesday after the Japanese video game giant posted results for its March quarter that were little changed from a year ago, but managed to sell more Switch consoles than some had feared. For the period ending March 31, Nintendo (OTCPK:NTDOY) said its profit fell 0.6% year-over-year to 477.7 billion yen ($3.7 billion), with sales declining 3.6% year-over-year to 1.7 trillion yen ($13 billion). The company shipped 4.11 million Switch consoles during the period, bringing the total to 23.06 million for the financial year, ahead of its previously revised outlook of 23 million, but down from a prior outlook of 25.5 million, due to component shortages, chief among them, semiconductors. Amongst titles, Pokémon Brilliant Diamond and Pokémon Shining Pearl sold a combined 14.65 million units and Pokémon Legends: Arceus sold 12.64 million units during the quarter. Nintendo (OTCPK:NTDOY) also said that Mario Party Superstars sold 6.88 million units, The Legend of Zelda: Skyward Sword HD sold 3.91 million units and older titles continued to sell well, including Mario Kart 8 Deluxe and Animal Crossing: New Horizons, which has surpassed 38.5 million unit sales. For the 2023 fiscal year, Nintendo (OTCPK:NTDOY) said it expects 21 million Switch units sold, down 9% year-over-year. In addition, Nintendo (OTCPK:NTDOY) said it would split its shares trading in Japan 10-for-1 starting in October. The company also announced it would pay its annual dividend of 1,410 yen per share to shareholders of record as of March 31.

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